BlackStar Enterprise Group Inc (BEGI)

[Bubae]

That is total BS for certain. There is no reason for GS Capital to be buying shares and certainly not related to the lawsuit. The Nevada Supreme Court pretty much sums up the case with their statement denying the stay "When a contract is clear on its face, it will be construed from the written language and enforced as written."

According to document 24-03599 from the Nevada Supreme Court website GS Capital had requested 257,701,499 the first half of November and was denied which became the basis for the lawsuit. Then we get the statement in the annual that ...195,620,499 shares of the Company’s common stock at a price of $0.00006 per share on their note of October 11, 2021. According to the text in the note the conversion price of $0.00006 would appear to be correct. Add in the 62,084,333 shares issued in December to the 195,620,499 shares for 2024 and we get 257,704,832. That number of shares priced at $0.00006 would satisfy less than half the principle balance of $33,682. So I'm thinking that the principle on the note was not paid in total. But, the chart in the annual for convertible notes shows that there is a zero remaining balance on the note. Something isn't right so we will see what the Q1 says when it is released in a couple of weeks.

Nevada Appellate Courts
https://caseinfo.nvsupremecourt.us/public/caseView.do;jsessionid=DD86B554D3E6998D3A6E9EB41AA71067?csIID=68335

Document 24-05565

Having considered the parties' arguments in light of these factors, we
are not persuaded that a stay is warranted. In particular, we are not
convinced that the object of the appeal necessarily will be defeated absent a
stay; respondent points to a clause in the parties' securities purchase
agreement acknowledging that appellant's breach of the agreement will
cause irreparable harm to respondent for which respondent is entitled to an
injunction,...

("When a contract is clear on its
face, it will be construed from the written language and enforced as
written." (internal quote marks omitted)); and appellant has not
demonstrated a likelihood of success on the merits sufficient to tip the
balance of the NRAP 8(c) factors in favor of a stay. Accordingly, we deny
appellant's motions...

Document 24-03599

The Note afforded GS Capital conversion rights to 257,701,499 shares from
November 2, 2023, to November 16, 2023

Update to November 6, 2023 Nevada Lawsuit
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000003/blackstar8kjan232024.htm

The lawsuit relates to a claim regarding the purported unavailability of shares to convert against the remaining principal and interest on a Promissory Note entered into on October 11, 2021, which had a remaining principal balance of $33,682.

As currently postured, Plaintiff seeks specific performance (a mandatory injunction) requiring the conversion of approximately 257,000,000 shares and possibly additional recovery of legal fees and interest. The lawsuit increases the Company’s financial and administrative burdens and is a risk to the Company’s capital.

Meanwhile, the preliminary injunction ordered the Company to honor the conversion requests of November 2, 2023 (for the conversion of 62,084,333 shares of common stock – completed December 21, 2023) and the three subsequent requests GS Capital claimed it “would have” made (62,023,333 shares, 65,168,333 shares, and 68,425,500 shares). In order to comply with the mandatory injunction, prior to the stay, the Company increased the share reserve for GS Capital Partners LLC and they subsequently completed the first two conversions.


For the fiscal year ended December 31, 2023
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001483646/000106594924000044/begi-20231231.htm

In 2024, GS Capital filed notices of conversion and were issued, in three tranches, 195,620,499 shares of the Company’s common stock at a price of $0.00006 per share on their note of October 11, 2021. (See Notes 7 and 11)

GS Capital Partners Convertible Promissory Note - October 11, 2022
https://www.sec.gov/Archives/edgar/data/1483646/000106594921000193/ex10_4.htm

4. (a) The Holder of this Note is entitled, at its option, at any time after cash payment, to convert all or any amount of the principal face amount of this Note then outstanding into shares of the Company's common stock (the "Common Stock") at a price for each share of Common Stock equal to 60% of the lowest trading price of the Common Stock as reported on the National Quotations Bureau OTC Marketplace exchange which the Company’s shares are traded or any exchange upon which the Common Stock may be traded in the future ("Exchange"), for the twenty prior trading days including the day upon which a Notice of Conversion is received